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Gerald Peters Acquires Retail Property From Mancini Giuffre In Staten Island For $5.7M

Property Image
SOLD
$5,700,000

New York

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Retail6,100 SF
Sold 04/09/2024
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Property Image
SOLD

Gerald Peters Acquires Retail Property From Mancini Giuffre In Staten Island For $5.7M

1461 Richmond Road

See Similar Deals
Retail6,100 SF
Sold 04/09/2024
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$934
Total Square Footage:6,100 SF
Transaction Type:Sale

The retail property located at 1461 Richmond Road in Staten Island was recently sold for $5,700,000. The asset spans 6,100 square feet, resulting in a price per square foot of $934. The transaction took place on 04/09/2024, with Gerald Peters acquiring the property from Mancini Giuffre. The sale was facilitated by Robert Nixon from Prendamano Real Estate.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,700,000
  • Address: 1461 Richmond Road
  • Market: Staten Island
  • Buyer: Gerald Peters
  • Seller: Mancini Giuffre
  • Broker: Robert Nixon - Prendamano Real Estate

The transaction involved Gerald Peters as the buyer and Mancini Giuffre as the seller. Robert Nixon of Prendamano Real Estate represented the parties involved in the sale of this retail property. The deal signifies a significant exchange within the Staten Island market, showcasing the active participation of these key individuals and companies in real estate transactions.

Players

Robert "Rob" Nixon
9 deals$99M volume
BROKER

Details

SOLD
IMAGE: Robert Nixon DATE: 04/09/2024 ADDRESS: 1461 Richmond Road MARKET: Staten Island ASSET TYPE: Retail BUYER: Gerald Peters (@GeraldPeters) SELLER: Mancini Giuffre BROKER: Robert Nixon (@RobNixonNYC) - Prendamano Real Estate SALE PRICE: $5,700,000 SF: 6,100 ~ PPSF: $934

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$304,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90